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Alberta Public Trustee Common Fund, Edmonton, rehired RBC Global Asset Management to manage the C$454 million (US$457 million) fund's two portfolios, confirmed Cathy Ducharme, spokeswoman for Alberta Human Services, which oversees the Office of the Public Trustee.

The two portfolios are a roughly C$400 million laddered portfolio of short-term bonds and short-term investments managed on a pure buy-and-hold basis and the rest in a diversified portfolio that consists of 80% bonds and 20% active equities.

The Alberta Office of the Public Trustee provides trust administration services for Albertans with mental disabilities and the estates of deceased people, along with the assets of “vulnerable Albertans,” according to the office's website.